Home » Business » The US MRO market is on fire… HD Will Hyundai Heavy Industries get a US shipyard too?

The US MRO market is on fire… HD Will Hyundai Heavy Industries get a US shipyard too?

news-contents">

[서울=뉴스핌] Reporter Jo Soo-bin = With President-elect Donald Trump personally stating his position on the need for cooperation in the shipbuilding industry with Korea, the MRO (repair, overhaul and overhaul) market is expected ) for growing US ships and warships.

As Hanwha Ocean continues to receive orders following the acquisition of the US Philly Shipyard, HD is wondering if Hyundai Heavy Industries will put the ‘profit’ issue aside and move directly to receiving US shipyards.

HD Test run of the first ship ‘Jeongjo the Great’, a next-generation Aegis destroyer (KDX-III Batch-II) built by Hyundai Heavy Industries and expected to be delivered to the Navy in late 2024. [사진=HD현대중공업]

According to the shipbuilding industry on the 14th, there is a growing sense of urgency within the United States that it could lose maritime hegemony to China, its biggest competitor. Therefore, the United States is known to be considering cooperation with shipbuilding powerhouses such as Korea and Japan while simultaneously improving the competitiveness of its own shipbuilding industry.

◆ Hanwha Ocean takes first step by acquiring Philly shipyard… HD What about Hyundai Heavy Industries?

The direction to prioritize collaboration in MRO, which can be completed in a relatively short period of time, around 6 months to 1 year, was recommended rather than investing in new construction areas. requires long-term investments and needs to acquire adequate personnel and infrastructure. .

The reason the MRO market is attracting attention is because it can be the basis for expanding the scope of cooperation to include orders for warships. In that regard, some say that Hanwha Ocean, which acquired Philly Shipyard, a US-based shipyard, has taken an advantageous position.

Accordingly, the move of HD Hyundai Heavy Industries, which was passive in considering the construction of overseas shipyards such as American shipyards, attracts attention. This is because its competitor, Hanwha Ocean, is already building infrastructure in the US that can handle not only MRO but also the construction of new warships.

Hanwha Ocean acquired the US Philly Shipyard as its US base this year, and is taking active steps in winning orders for the depot maintenance project for the US 40,000 ton logistics support ship Wallisch Laham in Last August and the regular repair project for the US 7th Fleet Yukon this month.

In the case of the MRO industry, when large shipbuilders who have received orders from docks (building site) receive orders, they go into the shipyard of the shipyard that received the order, carry out repairs, and then return to back to the ship owner or country of order, so no need to sleep in the local shipyard. However, the merchant shipbuilding and warship market, which is expected to be the post-MRO market, must have a shipyard in the United States, according to the Jones Act and the Barnes-Tollefson Amendment.

The Barnes-Tollefson Amendment contains the principle that all ships for the US military should not be built in foreign shipyards. The main purpose of the law is to protect domestic industries, such as the Jones Act, which requires that all goods to and from ports in the United States be transported only on American-flagged vessels built in the United States and crewed by American crews.

◆ Opinions are divided even within the United States… ‘Is it effective?’ HD Hyundai Heavy Industries is also worrying

HD Hyundai Heavy Industries also maintains that it is keeping the possibility open and is closely monitoring the situation in the United States.

Of course, taking over an American shipyard does not mean that you will get orders for ships immediately. Various business investments are required, including obtaining the qualifications necessary to receive orders for ships, building professional personnel and infrastructure, and strengthening the supply chain. The situation is the same, requiring investment of money and time not only in the United States but also in foreign shipyards that work there.

The US MRO market is on fire… HD Will Hyundai Heavy Industries get a US shipyard too?

HD Test run of the first ship ‘Jeongjo the Great’, a next-generation Aegis destroyer (KDX-III Batch-II) built by Hyundai Heavy Industries and expected to be delivered to the Navy in late 2024. [사진=HD현대중공업]

The reason HD Hyundai Heavy Industries continues to maintain a ‘wait and see’ attitude is because it is considering ways to revive its shipbuilding business in the United States, such as re- Jones Act study.

Rep. Mike Waltz, who was recently named White House National Security Advisor, said in an interview with the Atlantic Council last October, “The shipbuilding experience and the ability to build ships on a large scale outside China in Japan and South Korea. ,” and “They can work with us in a meaningful way.” “We have no choice in the short term but to let them cooperate,” he said.

That’s why some analysts say more emphasis is being placed on cooperation rather than rebuilding the shipbuilding industry directly in the United States. An official in the shipbuilding industry said, “The reason the United States is focusing on Korean shipyards is because they can build good quality ships at a much cheaper price than those that went made in the United States.” “The ecosystem is also working actively, so the United States is also considering efficiency,” he explained.

HD Hyundai Heavy Industries was also qualified to participate in the US Navy MRO project and is preparing to participate in the order. Beginning next year, we expect to begin receiving MRO orders from the US Navy in earnest.

HD Hyundai Heavy Industries signed a Ship Maintenance Agreement (MSRA) with the US Naval Supply Systems Command for the first time in Korea last July. At that time, HD Hyundai Heavy Industries announced that it would expand the MRO market in all regions, including Asia and South America, based on the MRO performance of existing Philippine ships. ‘provide services.

An official from HD Hyundai Heavy Industries explained, “We did not participate in the MRO project bids this year as the dock is currently full.

HD Hyundai Executive Vice Chairman Jeong Ki-seon, who was promoted on this day, also met with reporters at the Korea-US-Japan economic dialogue last September and replied, “Looking at the status the operation and profitability of the specialized shipyard, we intend to participate in the near future.” Since this post is intended to actively deal with the situation after the US presidential election, there is an investigation that it is possible that it will lead to the establishment of a new relationship with the US.

[email protected]

2024-11-14 05:34:00
#MRO #market #fire #Hyundai #Heavy #Industries #shipyard

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.